Apr 30: Borrowed $210,000 on a four-year, 5% note payable that calls for annual payment of interest each April 30. Journal Entry Date Accounts Debit Credit Apr 30, 2016 Aug 3: Paid the six-month, 11% note at maturity. Journal Entry Date Accounts Debit Credit Aug 3, 2016 Nov 30: Purchased inventory at a cost of $12,000, signing a three-month, 9% note payable for that amount. Journal Entry Date Accounts Debit Credit Nov 30, 2016